Honor your work by treating your book publishing as a business. Set up your business plan, your budgets for Editorial Services, Book Production/Printing, and Publicity and your marketing strategy. Know your break-even point – spend vs. earn – so you can make informed decisions about:
- Pricing your book correctly.
- Non-Returnable POD (print on demand) vs. Returnable Traditional Inventory.
- Planning your spend around specific author services needs.
To change your book project’s price, go to your dashboard and click “Publication Setup”.
Then, follow the publishing wizard tabs through PRICING and save your changes.
Figuring out how to price your book can be tricky. Choose a price that is competitive, yet retail-channel friendly. Find out which books are most like yours and sample the market. Use similarities between genre, format, and page count as a guide to competitive pricing.
Drive sales towards higher payouts. The profit margin for Book Sales on the FastPencil Marketplace is higher because there are no additional “channel fees”. Royalties are split net profit 80%-author / 20%-FastPencil, so Authors are driving customers towards the BookBuy page.
- If a physical/print-on-demand book is sold for $10, and the manufacturing cost is $2, FastPencil splits the remaining $8, 80%/20%; the author makes $6.40 and FastPencil makes $1.60.
- If the e-book is sold for $10, the author makes $8 and FP makes $2.
On a 3rd party Marketplace, channel fees do apply, and FastPencil would split the net profit 80%-author / 20%-FastPencil. For example, on Amazon.com, channel fees vary. But let’s say they charge 60% of the retail cost as a channel fee.
- If a physical/print-on-demand book is sold for $10, the channel fee is $6 and the manufacturing cost is $2, FastPencil splits the remaining $2, 80/20; the author makes $1.60 and FastPencil makes $0.40.
- If the e-book is sold for $10, the channel fee is $6, we split the remaining $4 80/20; the author makes $3.20 and FastPencil makes $0.80.
FastPencil ensures authors will not price their book so low as to make a negative royalty. So be sure to go through your project’s Setup Publication button to see what a realistic price range for your book would be.
Please note: The above illustration only showcases the revenue model for when books are sold to readers or distributors. Author pricing is different and is reflected on your publication’s page when you are signed into FastPencil. You/the author pays a discounted price for print books and would not earn royalties on this type of purchase.
FastPencil is Publishing Simplified.
How can we help? Ask us about any stage of the book publishing life cycle:
- Write a Book + eBook from one project (Start a New Project Now!)
- Establish your brand and engage with our network
- Editorial Tips and Tricks from our Blog
- Creating a cover (does it look great at various sizes?)
- Print a draft / How to print an (ARC) advanced review copy
- Reserve your copyrights with Copyright Protection
- Final proof reviews, downloaded to your desktop or device
- Prepare for publication, collect metadata easily
- Publish print book + e-book format bundles from one project!
- Distribute globally, if desired
- Book Launch marketing info!
- Drive readers to buy book using marketing graphics
- Create more Content, Repeat the Cycle + Monetize!
Go back to your Book Project Dashboard now.
Or learn more about Spotlight: Knowledgebase Sections:
- Publication Setup Button – How to Prepare for Publishing
- How Do I Buy My Book? (Author Pricing, Bulk Orders, Wholesale Discounts)
- Post-Publishing & Distribution Next Steps: What to Expect
Source Article: https://kb.fastpencil.com/hc/en-us/articles/201657074-Pricing